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Share Market Closing Note , Indian Stock Market Trading View For 27 Dec 2021 - Sharetipsinfo

27. December 2021 Sandeep Stock Market Research (0)

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Benchmark indices erased previous session losses and ended higher with Nifty closing near 17,100.

Closing Bell: Day Trading, Money Manager and Investor News

At close, the Sensex was up 334.86 points or 0.59% at 57,459.17, and the Nifty was up 92.50 points or 0.54% at 17,096.30. About 1944 shares have advanced, 1285 shares declined, and 124 shares are unchanged.

Tech Mahindra, Cipla, Dr Reddys Laboratories, UPL and Kotak Mahindra Bank were among the top Nifty gainers on the Nifty. Losers were Hindalco Industries, Britannia Industries, IndusInd Bank, ONGC and Grasim Industries.

Among sectors except metal, all other sectoral indices ended higher with pharma index gained 1 percent. The BSE midcap index and smallcap indices ended in the green.

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Topic :- Time:3.00 PM

Nifty spot if manages to close above 17040 level then expect some upmove in coming sessions and if it closes below above mentioned level then some sluggish movement is likely to be seen. Avoid open positions for tomorrow.

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Topic :- Time:2.00 PM

Nifty is trading in green zone now. Nifty spot if manages to trade and sustain above 17080 level then expect some quick upmove and if it breaks and trade below 17740 level then some decline can follow in it.

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Topic :- Time:1.45 PM

Just In:

IIFL HFL Disbursed loans of over ₹ 3000 crore

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Topic :- Time:1.45 PM

New York sees increase in hospitalized children as Omicron hammers US:

With Omicron cases on the rise, New York health officials have reported an increase in hospitalized children, as the White House promised Sunday to quickly resolve the United States Covid-19 test shortage.

The New York State Department of Health warned of an upward trend in pediatric hospitalizations associated with Covid-19, in a statement Friday.

In New York City, it identified four-fold increases in Covid-19 hospital admissions for children 18 and under beginning the week of December 5 through the current week, it said.

Approximately half of the admissions are younger than five, an age group that is vaccine ineligible, the department added.

The number of Covid-19 cases in the United States is on the rise, with an average of nearly 190,000 new infections daily over the past seven days, according to figures from Johns Hopkins University.

The arrival of the new Omicron variant, compounded by holiday celebrations that typically include travel and family reunions, have caused a rush on tests in the United States, where it is difficult to get one in many locations.

Top US pandemic advisor Anthony Fauci on Sunday acknowledged a Covid testing problem and vowed to make more tests available to Americans next month.

One of the problems is that thats not going to be totally available to everyone until we get to January and there are still some issues now of people having trouble getting tested, Fauci told ABC News.

But we are addressing the testing problem, he added, saying it should be corrected very soon.

On Tuesday, President Joe Biden announced a raft of new measures as the United States battles its latest Covid surge, including shipping half a billion free home tests in the wake of the Christmastime testing crunch.

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Topic :- Time:1.30 PM

NATURALGAS Trading View:

NG is trading at 286.50.If it breaks and trade below 286.00 level then expect some decline in it and if it manages to trade and sustain above 287.40 level then some upmove can follow in it.

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Topic :- Time:1.10 PM

Important Alert:

1. RBI says RBL Bank well capitalised, financial position satisfactory

2. RBL Bank has financial strength, capital for growth ahead: Interim CEO Rajeev Ahuja

3. RBL Bank must fix its books, leadership to win back investor confidence

4. Saraswat Bank chairman, seven more booked in cheating case in Pune

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Topic :- Time:1.00 PM

Nifty is rangebound however it is trading in positive zone now. Nifty spot if manages to trade and sustain above 17080 level then expect some quick upmove in the market and if it breaks and trade below 17040 level then some decline can follow in the market.

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Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trading at 754.20.If it breaks and trade below 752.50 level then expect it to fall till 748-749 levels and if it manages to trade and sustain above 755.50 level then some upmove can be seen in it.

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Topic :- Time:12.00 PM

Nifty is highly rangebound. Nifty spot if manages to trade and sustain above 17040-17050 levels then expect some quick upmove and if it breaks and trade below 17000 level then some decline can be seen in the market. Traders are advised to wait for some movement before taking big positions.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex, Nifty remain choppy; Private banks worst hit

2. BL Bank tanks 20% as Vishwavir Ahuja goes on leave

3. Air Indias return flight to Tatas may get delayed due to pending approvals

4. Adani Group nears first coal shipment from shunned Australian mine

5. Foxconn India plant shut for 3 more days after week-long closure: Report

6. Kabra Extrusion surges 16% on Rs 100 crore capex plan for its battery unit

7. TBO Tek files papers with market regulator to raise Rs 2,100-crore via IPO

8. MFs add Rs 7 trn to kitty in 2021; Omicron possible red flag for 2022

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Topic :- Nifty Opening Note

Indian Stock Market Trading View For 27 Dec,2021:

Consolidation expected in the market. Global cues and omicron threat will act as trend decider for the week.

Nifty spot if manages to trade and sustain above 17040 level then some upmove can follow in the market and if it breaks and trade below 16980 level then some decline can follow in the market. Please note this is just opening view and should not be considered as the view for the whole day.

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At least 70% young students face learning poverty for shut schools, says World Bank

27. December 2021 Sandeep Stock Market Research (0)

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This generation of students risks losing $17 trillion in lifetime earnings in present value, or about 14 percent of today’s global GDP, as a result of COVID-19-related school closures

More than 70 percent of 10-year-olds in low and middle income economies have slipped into a learning poverty because of the pandemic, risking $17-trillion loss in lifetime earnings for the generation, according to a World Bank estimate.

It will have a lasting impact on future earnings, poverty alleviation, and reducing inequality, the World Bank has said in a note.

One of the devastating impacts of COVID-19 on the poor and vulnerable can be seen in the field of education. It dealt a severe blow to the lives of young children, students, and youth and further exacerbated inequalities in education, the World Bank wrote.

“Due to prolonged school closures and poor learning outcomes, recent World Bank estimates document that increases in learning poverty – the share of 10-year-olds who cannot read a basic text – could reach 70 percent in low- and middle-income countries,” the agency said in a year-end review note. But it did not give country-specific details.

“In response to the deepening education crisis, the Bank has rapidly ramped up its support to developing countries, with projects reaching at least 432 million students and 26 million teachers – one-third of the student population and nearly a quarter of the teacher workforce in current client countries,” it said.

Reiterating how the pandemic has pushed people into poverty, the World Bank wrote that extreme poverty rose in 2020 for the first time in over 20 years and around 100 million more people are living on less than $1.90 a day.

From uneven economic recovery to unequal access to vaccines, from widening income losses to divergence in learning, COVID-19 has had a disproportionate impact on the poor and vulnerable in 2021. It is causing reversals in development and is dealing a setback to efforts to end extreme poverty and reduce inequality.

Explaining the learning poverty among 10-year-olds, World Bank said that out of every 100 students in the age group, 56 were in learning poverty prior to the pandemic and it has now touched 70. Of this 9 percent are schooling deprived and rest learning deprived. It means, only 30 percent are now not in learning poverty.

Earlier this year, the World Bank, UNESCO, and UNICEF had said in a joint report that this generation of students “now risks losing $17 trillion in lifetime earnings in present value, or about 14 percent of today’s global GDP, as a result of COVID-19 pandemic-related school closures.” The new projection reveals that the impact is more severe than previously thought, and far exceeds the $10 trillion estimates released in 2020.

Also Read:- Amit Mitra urges PM Modi to call GST meet to reverse tax hike on textiles

Though the World Bank did not mention anything specific about India, several recent surveys had showed how Indian students have suffered a massive learning loss due to the school closures. Though schools have officially opened in most of the states partly or fully, the attendance continues to be low due to the continued fear of the pandemic.

Amit Mitra urges PM Modi to call GST meet to reverse tax hike on textiles

27. December 2021 Sandeep Stock Market Research (0)

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In a tweet Mitra said, "Modi Govt will commit another blunder on Jan 1. By raising GST on (man-made) Textiles (from) 5 per cent to 12 per cent, 15 million jobs will be lost and 1 lakh units will close. Modi ji, call a GST Council meeting now and reverse decision before sword of Damocles falls falls on the head of millions of people."

GST Council Meeting Highlights: Should Centre compensate states for loss from coronavirus? | The Financial Express

Former West Bengal finance minister and now advisor to the state Chief Minister, Amit Mitra on Sunday urged Prime Minister Narendra Modi to convene an urgent meeting of the GST Council to revert a hike in tax on man-made fibre textiles.

In a tweet Mitra said, "Modi Govt will commit another blunder on Jan 1. By raising GST on (man-made) Textiles (from) 5 per cent to 12 per cent, 15 million jobs will be lost and 1 lakh units will close. Modi ji, call a GST Council meeting now and reverse decision before sword of Damocles falls falls on the head of millions of people."

The union government had notified an increase in GST on natural fibre products from 5 per cent to 12 per cent, including apparels in the lower tax bracket with effect from January 1, 2022.

The former finance minister on December 24 at a media meet had urged the Union Finance Minister Nirmala Sitharaman to similarly convene an urgent meeting of the GST Council to rescind the seven per cent tax hike in GST on the textiles sector to prevent job loss and closure of small units.

"If the tax (hike) is not reversed then the impact will be huge with job loss to 15 lakh (1.5 million) people, including those engaged in ancillary industry and closure of one lakh small units. A lot of units will revert to the informal sector, Mitra had told reporters during the meet.

However in his tweet put out on Sunday the job loss figure was placed at 15 million. The total number of jobs in India's textile sector is placed at 45 million by the India Brand Equity Foundation a trust founded by the Ministry of Commerce and Industry.

Mitra had pointed out that the textile trade's natural fibre segment constitutes 80 per cent of the Rs 5.4 lakh crore sector and its net profit margin is between one and three per cent making it vulnerable to any kind of cost increase.

Also Read:- Basavaraj Bommai-led GoM on GST rate likely to submit report by February

The cotton sector is already reeling under 70 per cent inflation, he had claimed, adding that the government estimate of earning an additional Rs 7,000 crore from raising the tax is mythical as a lot of units may shut down as a direct consequence of the tax hike.

He had accused the Centre of not discussing the issue in the GST council before announcing the hike.

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